Women-led savings groups in the Solomon Islands are flourishing with extra financial literacy training and support.

A proud and newly graduated coach (Phase 1)

In 2021, the Solomon Islands government set bold new financial inclusion targets. One third of people in the Solomon Islands are ‘unbanked’ or not included in the formal banking system. Being ‘unbanked’ is an issue because it means individuals cannot access secure and safe financial facilities which can impact their ability to grow savings, track money flow and build businesses to support sustainable livelihoods. Recognising Good Return’s expertise in the area of financial inclusion and women's economic empowerment, Good Return was thrilled to partner with the Central Bank of Solomon Islands (CBSI) to help meet these targets. Since then, the partnership has continued to flourish with inspiring on-the-ground impacts. 

Good Return’s Solomon Islands Program Manager Elizabeth Sodu works on the ground with staff from the bank to deliver financial capability training to women-led community groups. Recently ten women from the Anglican Church of Melanesia Savings Group graduated from the ‘Training of Coaches’ stage of Good Return’s ‘CAFE’ initiative. CAFE uses curricula and tools focused on behavioural change and enables learners to use new-found financial literacy skills and knowledge creatively, so that they can experiment with different behaviours, and make tailored financial choices that enhance their overall financial well-being. At Good Return, we believe that this is the right approach to bringing more people into financial security and building long-term pathways out of poverty. 

But the story doesn't stop there. In June, these coaches commenced Phase 2 of the program: taking their new skills back to their local villages and sharing the knowledge with those who need assistance with financial management. Focusing on women-led savings groups in their community, they are  assisting other women to build confidence and identify their own financial priorities, using money management tools such as savings, emergency planning and debt reduction plans. 

‘I am very happy because I have the opportunity to learn how to change my behaviour when it comes to managing money’ said Zinniah, a participant of Phase 2. ‘I now have the confidence to go back and teach other women in my community the importance of how to save and manage their finances’.

Importantly, these women-led savings groups already exist and are central community hubs. That is, Good Return’s role is bolstering the existing capacity of these groups and equipping these entrepreneurial women with the skills they want, led by their own community leaders. On the other hand, if there isn't an active savings club already in certain communities, the Ministry of Women will then reach out to community leaders in that area to gauge if there is interest in creating a savings group - to which Good Return can then assist through CAFE training.

For many of these women, the journey is transformational and as Elizabeth Sodu explains: ‘For me, the best part of the journey is when the women receive their completion certificates. The certificates are usually presented by myself, senior staff at CBSI or the media. When receiving their certificates the graduates also share their personal testimonials. They can be very emotional and proud’.

Crucially, Good Return is committed to strategically engaging with local partners and working within existing national financial institutions to innovate and strengthen financial and economic inclusion solutions. We do this because we believe that local partners and institutions better respond to the unique needs of the communities in which they already work to offer customised financial products. Good Return’s CAFE initiative in the Solomon Islands is supported by the Australian Government’s Department of Foreign Affairs and Trade through the Australian NGO Cooperation Program #ANCP and the Central Bank of Solomon Islands.

Phase 2 of the program - where the graduated coaches take their new skills back to their local villages.